General Electric Managed to Keep Their Tax Return Under 60,000 Pages

Posted on by Caleb Newquist

Recently, Congressman Paul Ryan (R-WI) was chattin’ up some citizens at a townhall meeting where he told a little anecdote about asking a GE “tax officer” how long the company’s tax return was for this year. He was told (and the Weekly Standard confirmed) that it was in the nabe of 57,000 pages. Granted, GE filed their return electronically, so there’s no way we can officially know what the count is but the combination of the world’s best tax law firm and a grip of savvy loaned KPMG employees managed to keep it under 60k. Nice job, everyone. [TWS via TaxProf]

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Wesley Snipes Doesn’t Want to Deprive the Public of His Art

WesleySnipesR.jpgSo he simply can’t do three ‘unreasonable’ years in prison. Nevermind that he was convicted of “willful failure to file his income tax returns,” the cultural community simply cannot be do without the likes of The Art of War II: The Betrayal.

Snipes was sentenced in April 2008 in what was considered a key victory for prosecutors who aggressively pursued the maximum penalty to deter others from trying to obstruct the IRS. They say he made at least $13.8 million for the years in question and owed $2.7 million in back taxes that he refused to pay.
Snipes apologized at the time, calling himself an idealistic artist who was “unschooled in the science of law and finance.”

The man A) apologized and B) had a good excuse: he is AN ARTIST. He can’t possibly be expected to make heads or tails of this tax law rigamarole, so three years? C’mon. Let it slide 11th Circuit. Besides, vampires are all the rage right now so Blade is bound to get hot again. Just you wait.
Wesley Snipes appeals 3 tax convictions in Georgia [AP]
See also: Wesley Wants to Walk [Tax Update Blog]